Cryptocurrency Market News: Cryptocurrency wallet hardware maker Ledger on Tuesday took a major step forward in its efforts to fix the ongoing controversy surrounding the security concerns with the recently added feature. The past few the Ledger feature is stated to have a vulnerability that can expose user’s seed phrase. This led to plenty of users moving their assets out of Ledger wallets. In this context, the Ledger team took the transparency way to deal with the safety concerns in the cryptocurrency market.
Ledger CEO Apologizes
Pascal Gauthier, the Chairman and CEO of Ledger, stated the company did not hope to surprise users over the seed phrase recovery concerns. Nonetheless, the CEO stated the company will priorititize security and increased transparency going forward. Hence, he stated, the company decided to accelerate its open sourcing plans. The open source code from Ledger will include the operating system, beginning with core components of the OS, and Ledger Recover, which will not released until this work is complete, the CEO stated in a statement. This implies the key recovery feature’s release has been postponed until completion.
“Our unintentional communication mistake took everyone by surprise and influenced our customer’s capacity to accurately understand Ledger Recover, its role for the growing cryptocurrency community, and for Ledger’s future offering. We apologize for the way this was communicated.”
For additional security measures to avoid unauthorized user fund access, the passphrase feature can now we enabled, the company said.